Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (2004)83TTJ(Ahd.)904
..... the course of search exposes the falsity of the entries made in the regular books of accounts, the consequent concealed income cannot be assessed as undisclosed income in block assessment under chapter xiv-b.in the present case the addition in respect of purchases made from the alleged bogus suppliers has originated on the basis of material found and seized during the search. ..... --the undisclosed income of the block period shall be the aggregate of the total income of the previous years falling within the block period computed in accordance with the provisions of this act, on the basis of evidence found as a result of search or requisition of books of account or other documents and such other materials or information as are available with the ao and relatable to such evidence, as reduced by the ..... in that case also the addition was made by the ao on the ground that there were suspicious features like the sellers having their bank accounts in the same branch, sales-tax registration numbers of those sellers were cancelled, the amount paid by the assessee to the suppliers towards the payment of purchase price of goods was immediately withdrawn subsequently by way of self ..... block period is to be charged to tax at the higher rate of 60 per cent presently specified in section 113 of the act after such undisclosed income is assessed in accordance with the provisions of this chapter by the ao as income of the "block period" as defined in section 158b(a) of the act. ..... doing miscellaneous work .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (2008)113TTJ(Ahd.)918
..... section 142, setting forth his total income including the undisclosed income for the block period: provided that no notice under section 148 is required to be issued for the purpose of proceeding under this chapter: provided further that a person who has furnished a return under this clause shall not be entitled to file a revised return; (b) the ao shall proceed to determine the undisclosed income of the ..... of the aforesaid extract of the decision, we are of the opinion that there is no doubt about the proposition of law that it authorities are under obligation to charge, levy and collect only the legitimate tax and if an assessee due to any reason fails to claim deduction/exemption available to it under the law or commits a mistake in showing any income which is otherwise not taxable or shown any income in the ..... chapter xtv-b of the act was completed on 30th june, 2004, assessing the undisclosed 'income at nil, and the method of accounting was mentioned the ao as "mercantile".2.9 the assessee did not appeal against the assessment for block period because assessed undisclosed income was 'nil', but thereafter, moved an application under section 154 of the act ..... miscellaneous - refund and reliefs due to assessees - departmental attitude towards - the board have issued instructions from time to time in regard to the attitude which the officers of the department ..... (vii) even otherwise, even if revenue's plea that press note/release was ..... (vii) the learned counsel for the assessee further .....
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